The Punjab Dyes & Chemicals Merchants Association (PDCMA) has expressed concerns over various tax-related measures in federal budget and called for immediate remedial measures. The Association's executive committee meeting chaired by Abdul Aziz Chughtai, put forward its suggestions. President of the Association (Lahore Zone) Khawaja Khawar Rasheed was also present in the meeting.
The participants demanded abolishment of the condition of CNIC-based sales and purchases. They said withholding income tax at the rate of six percent being paid by the commercial importers should be made refundable/adjustable. Commercial importers should also be allowed to get exemption certificate for further import when their tax reaches last year limit. They said three percent value addition on import should be withdrawn. Exemption from sales tax and income tax audit should be given because people are paying both taxes at import stage. They also urged the finance and commerce ministries to have a consultative session with the stakeholders to discuss the issues and their solutions.
Comments
Comments are closed.